- Google Bitcoin searches are not as high as they could be given Bitcoins price success.
- Web search data results paint that Bitcoin interest has not increased despite a price rally of around $16,000.
- Bitcoin, which is classed as one of the best cryptocurrencies, has gained 50% in just four weeks to trade up to $15,971 today.
Google Bitcoin searches are not as high as they should be
Google Bitcoin searches are not as high as they could be given Bitcoins price success. Web search data results paint that Bitcoin interest has not increased despite a price rally of around $16,000.
Bitcoin, which is classed as one of the best cryptocurrencies, has gained 50% in just four weeks to trade up to $15,971 today. The last time Bitcoin hit an all-time high was late 2017 to early 2018 during the bull market frenzy.
Some researchers pointed out that the increase in Bitcoin price was because retail businesses did not want to miss out on making the gains. The stagnant Google searches suggest that this was not the case.
Google trends are an effective way to workout out how interested people are in something if it is trending or not. Google trend search ranks are between 0 and 100, with 100 being the highest.
According to Google trends, the figure to describe google searches for the word Bitcoin price is low at 10. Bitcoin being level 10 on google is a far lower rate than the group of searches it experiences between 2017 and 2018 following its record-breaking $15,000 price.
Consumers are not being probed to go Bitcoin because of today’s price rise because the current reading is almost half of what it was in May. Usually, Google data rises when there is a dramatic price change that investors have missed because they are looking for information on the price to enter the market.
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